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ICP Long/Short Ratio (Hyperliquid)

How ICP traders on Hyperliquid are positioned: tracked accounts long vs short, position value long vs short, the split by position size and the largest positions, from real on-chain positions. Compare it with the Binance and Bybit ratios below.

55.8% of the 172 tracked Hyperliquid ICP positions are long (long/short ratio 1.26). By value, longs hold 47.2% ($1.47M long vs $1.64M short).

41,658 positions in 8,864 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 22:24 UTC

Accounts long172 tracked
55.8% long
Ratio 1.2696 long · 76 short
Value longby size
47.2% long
Ratio 0.89$1.47M$1.64M
Whales long$1.00M+ positions
—
0 long · 0 short
Coverage of ICP OItracked
32.3%
$3.10M tracked · $4.81M OI50.0% checked ≤ 15 min

ICP long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 55.8%1.26
Hyperliquid (tracked)position value 47.2%0.89
Binanceaccounts 64.6%1.83
Bybitaccounts 76.7%3.28
Binance top tradersposition value 82.3%4.65

By position size

tracked ICP positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K6753 55.8%$158K$115K 57.7%
$10K–$100K2617 60.5%$891K$604K 59.6%
$100K–$1M36 33.3%$417K$918K 31.2%
$1M and up00—$0$0—

Largest tracked ICP positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x94da…c449 Short $191K 2.918 -$14K 17.519 +455.55% 3× cross 17 min ago
0xc464…b868 Short $191K 2.758 -$24K 8.890 +181.90% 5× cross 18 min ago
0x8cc9…2b6a Short $173K 3.191 $2,066 88.360 +2702.05% 5× cross 1 min ago
0xc69a…b34c Long $158K 2.477 $34K — — 5× cross 20 min ago
0xd6e5…5b42 Short $150K 2.840 -$15K 108.21 +3331.64% 5× cross 1 min ago
0x93db…d532 Long $142K 3.152 $53 — — 5× cross 27 min ago
0xcac1…26b3 Long $117K 2.244 $34K — — 5× cross 1 min ago
0x472c…bf4b Short $109K 3.084 -$2,404 32.661 +935.73% 3× cross 7 min ago
0xb0dc…dfb1 Short $104K 2.980 -$5,703 33.286 +955.55% 5× cross 18 min ago
0x44c9…277c Short $95K 2.476 -$20K 22.896 +626.08% 5× cross 14 min ago
0xd6ed…8588 Long $91K 3.186 -$943 2.833 -10.16% 5× isolated 16 min ago
0xb8b2…99e4 Long $86K 3.189 -$980 2.834 -10.11% 5× isolated 2 h ago
0x1856…08ae Short $79K 3.232 $1,972 39.226 +1143.93% 5× cross 9 min ago
0x8510…92ee Short $71K 2.373 -$17K 59.156 +1775.96% 3× cross 22 min ago
0xe5aa…6232 Short $70K 2.370 -$17K 41.298 +1209.64% 3× cross 22 min ago
0x77ee…2902 Long $69K 2.737 $9,076 — — 5× cross 1 min ago
0x6920…f48a Long $63K 2.289 $17K — — 5× cross 9 min ago
0x2ab3…c9d4 Long $63K 3.105 $957 — — 5× cross 13 min ago
0x57d8…40e6 Long $63K 3.158 -$93 — — 5× cross just now
0x9b37…e357 Long $52K 3.147 $108 1.075 -65.92% 5× cross 25 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.3% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.33B60 s60 s
B3,0003,000$2.99B15 min29 min
C45,0075,556$327.09M4 h15 h

Tier A is the 300 wallets with the largest positions; B the next ones; C everyone else. Hyperliquid's API rate limit decides how often the smaller tiers can be checked, so their actual cycle can be longer than the target. Coverage is tracked value ÷ (2 × Hyperliquid open interest); 37.7% was checked in the last 15 minutes. Wallets not checked for 48 hours are left out of this page.

How to read it. The accounts figure counts each tracked account with an open ICP position once; the value figure weighs positions by size. Binance and Bybit publish their own ratios for all their users; the Hyperliquid figures here are computed from the public positions of the wallets this site tracks. Not financial advice.

ICP Hyperliquid long/short ratio FAQ

How is the Hyperliquid ICP long/short ratio calculated?

From the real open positions of the Hyperliquid wallets this site tracks. The accounts ratio counts every account with an open position once: the number of accounts long divided by the number short. The value ratio weighs positions by size at the mark price, so a few large traders can outweigh many small ones.

How is it different from the Binance or Bybit long/short ratio?

Binance and Bybit publish their own ratios; you have to trust their numbers. Hyperliquid is an on-chain exchange, so its positions are public and this ratio is computed directly from them. It covers the wallets this site tracks, not every account, so it is a large sample rather than the full market.

How much of ICP open interest does this cover?

The tracked ICP positions add up to 32.3% of ICP's open interest on Hyperliquid (tracked long plus short value divided by twice the open interest, since every long has a matching short).

How often does it update?

The positions are reloaded every 2 minutes. The 300 largest wallets are re-checked every minute, smaller ones every few hours, and wallets not checked for 48 hours are left out.

Is a high long/short ratio bullish?

Not on its own. Crowded positioning can unwind sharply: a market where most accounts are long can fall fast if those longs are forced to sell. Compare the accounts ratio with the value ratio to see whether the crowd and the large traders agree. This is market data, not financial advice.